Cyprus’ Mobile Gaming Scene: What the Data Tells us

CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
INTELLIGENCE

CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
2
INTRODUCTION
Cyprus may be small in size, but it’s making an outsized impact
on the global mobile gaming landscape. With just 1.35 million
inhabitants, this Mediterranean island nation has established
itself as a powerhouse in mobile game publishing, outperforming
much larger European countries and standing third globally
behind only the United States and China in terms of top publisher
representation.
In 2024, seven of the world’s top 100 mobile game publishers by
downloads were headquartered in Cyprus – more than France, Israel,
the UK, or Germany. Even in terms of in-app purchase revenue,
four Cypriot-based publishers ranked among the top 100 globally.
This remarkable success speaks to the country’s expertise in user
acquisition and monetization, making it one of the most influential
hubs in mobile f ree-to-play gaming.
This report examines the success of Cyprus-based mobile
gaming publishers, analyzing download and revenue trends
f rom 2020-2024, performance across different game genres,
and penetration in key global markets. We’ll explore what makes
Cyprus such an attractive hub for game developers, dispel common
misconceptions about the local industry, and highlight the
inf rastructure that fuels this growth.
From casual hits like “Talking Tom” to midcore successes such as
“World of Tanks” and “Hero Wars,” Cyprus has proven itself as a
master of both user acquisition and monetization in the f ree-to-
play mobile space. Join us as we dive into the numbers behind this
Mediterranean mobile gaming powerhouse.
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TABLE OF CONTENTS:
State of Play: Mobile Gaming in Cyprus by Numbers 4
Cyprus Gaming in Tier 1 Nations 6
Cyprus Gaming by Genre 6
Summary 7
Why Cyprus? 7
Dispelling Myths 7
Notable Examples: Figures and Growth 8
How Many Cypriot Mobile Games are
Available on Both iOS and Android? 9
Average Mobile Games Downloads: Cyprus vs Worldwide 9
Academic Support 10
A Supportive Environment for Start Ups 10
Top 10 Mobile Game Publishers in Cyprus (By Downloads) 12
Gamesforum Cyprus 2025 13
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CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US

Despite a population of 1.35 million people, Cyprus continues to grow as a force
in the gaming industry.
Of the top 100 mobile games publishers by download in 2024, seven were
headquartered in Cyprus, compared to six f rom France, five f rom Israel, three
f rom the UK and two f rom Germany. Only the US with 13 and China with nine
had a larger presence in global mobile game publishing downloads for 2024,
which – given the population disparity – is impressive.
On the other hand, four of the top 100 mobile games publishers by IAP revenue
for 2024 are headquartered in Cyprus.
Both in downloads and revenue, Cyprus stands as a leader in mobile gaming
UA and monetization, a trend that despite hardship across the mobile games
ecosystem in recent years has produced incredible results for top publishers on
the island.
In figures one and two you can see the cumulative performance of the top 100
mobile publishers headquartered in Cyprus based on global downloads and IAP
revenue per year in US dollars (USD).
STATE OF PLAY:
MOBILE GAMING IN CYPRUS BY NUMBERS 4
CYPRUS’ MOBILE GAMING SCENE:

WHAT THE DATA TELLS US
Figure 1: Cypriot mobile game publisher global downloads f rom 2020-2024 Figure 2: Cypriot mobile game publisher global
IAP Revenue (USD, millions) f rom 2020-2024*
*Note: IAP revenue reduced by platform fee and inclusive of taxes.
6000
4000
3000
2000 1000 0
Global Downloads (Million)
2020 20212022 20232024
5000
1200
800600
400 200 0
IAP Revenue (USD Million)
2020 20212022 20232024
1000

Both figures one and two show that download and IAP revenue peaked in
2021 and subsequently declined in 2023, a trend shared with the wider industry
post-pandemic and post-IDFA uncertainty.
As seen in figure one, the decrease in downloads has slowed over the years.
Between 2021 and 2022, there was a decrease of 580 mn. In 2022 to 2023, this
decreased to 450 mn and between 2022 and 2023, this fell further to a loss of
160 mn, indicating a gradual bounce back to the peak of 2021.
Figure two provides insight on the IAP revenue side, with a drop below 1 bn USD
in 2022. IAP revenue recovered to 1.07 bn USD in 2023 and to 1.1 bn USD in 2024.
To look further at publishers headquartered in Cyprus’ performance on
the world stage of mobile gaming, in 2024 the first and third most downloaded
publishers were Azur Games and SayGames with 1.4 bn and 940 mn
downloads respectively.
5
CYPRUS’ MOBILE GAMING SCENE:

WHAT THE DATA TELLS US
Gamesforum Cyprus was actually first on my list of 2025 events to attend.
I was impressed by the island’s burgeoning games ecosystem
and the many new contacts I made in games companies
both large and small. The location of Cyprus between
Europe, MENA, Af rica and Asia means it houses a
melting pot of different cultures and its appealing
tax regime has proved to be a good incubator
of growth. Last year’s content stood out as
differing f rom the norm so I am looking
forward to a vibrant and opinionated forum in
what has to be Gamesforum’s best venue yet!
Jacki Vause,
CEO, Dimoso
“

When it comes to performance in Tier-1 Nations, in the West (US, UK, France,
Germany, Canada, Australia) Azur Games with 175 mn and SayGames with
169 mn ranked first and second in downloads.
While in the East, Tier-1 Nations (China, Hong Kong, Japan, South Korea,
Taiwan) SayGames with 27 mn and Azur Games with 24 mn placed third
and fourth in downloads.
CYPRUS GAMING
IN TIER 1 NATIONS 6
CYPRUS’ MOBILE GAMING SCENE:

WHAT THE DATA TELLS US
CYPRUS GAMING BY GENRE
In terms of hyper-casual downloads, Cypriot mobile games publishers performed
exceedingly well in 2024, with Azur Games receiving the most downloads with
1.2 bn while SayGames ranked third with 180 mn downloads. Belka Games ranked
23rd with 98 mn downloads and PlayDucky 40th with 50 mn.
On the casual side, Talking Tom creator Outfit7 amassed 698 mn downloads
placing it second globally and Belka Games with 257 mn at fourth. Easybrain
placed tenth with 192 mn. Five other Cypriot based mobile publishers featured
in the top 100 publishers.
Beyond casual, Cyprus is home to some of the best known mid and hardcore
gaming publishers, such as Wargaming.
Azur Games (90 mn), Naxeex Action (85 mn), Nekki (72 mn) and MY.GAMES
(60 mn) all featured in the top 50 midcore mobile game publishers by download
for 2024. Nexters, PlayDucky and Go Dreams all featured in the top 100.
In IAP, revenue for Midcore games, Scorewarrior amassed 147 mn USD in 2024,
while MY.GAMES made 141 mn USD and Nexters 131 mn USD placing all three
in the Top 50 global publishers for midcore in IAP revenue. While Belka Games
made 82 mn USD and Wargaming 48 mn USD placing them in the Top 100.

This combination of charting success in IAP revenue, outperforming all but
the US and China in downloads amongst the Top 100 mobile game publishers
and its continued success in the hyper-casual genre make the Cypriot gaming
industry masters of monetization and user acquisition in mobile F2P.
SUMMARY 7
CYPRUS’ MOBILE GAMING SCENE:

WHAT THE DATA TELLS US
WHY CYPRUS?
Cyprus is home to over 330 mobile game developers f rom small independent
studios to well known players Outfit7 “Talking Tom”, Wargaming “World of
Tanks” and Nexters “Hero Wars”. The existing community alone has been
enough to attract more developers to the island and in recent years the mobile
games ecosystem in Cyprus has seen great expansion with the creation of more
local game development studios.
But the attraction of Cyprus goes beyond the established ecosystem. The island’s
location, which sits between Europe, Middle East, Af rica and not too far f rom Asia,
make it an impressive cross-section of culture with access to diverse markets at ease.
Location and history combined with the Cypriot business-f riendly environment
that includes helpful regulatory policies and supportive government initiatives,
attracts further investment f rom international pubs and studios.
DISPELLING MYTHS
Equipped with its fair share of misconceptions, Cyprus’ mobile gaming scene
is more nuanced than commonly perceived. The island’s mobile gaming
landscape has evolved significantly in recent years, yet remains shrouded
in outdated assumptions. Below, we tackle the three most prevalent myths
associated with mobile game development in Cyprus and reveal the truth
behind some of the myths.
Myth 1: Cyprus’ mobile games development scene
is isolated f rom the rest of the world
Cyprus’ mobile gaming scene is far f rom isolated, it is deeply integrated
into the global industry through international collaborations, game
development studios with multinational teams, and a strong presence in
online distribution platforms.

CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
Cyprus has become a hub for prominent international mobile gaming
companies. Notably, Wargaming, known for titles like World of Tanks,
generating $420,675,246 in revenue over its lifetime as well as 163,575,115
downloads with over 160 mn users, relocated its headquarters to Nicosia in
2011, expanding its global operations f rom Cyprus. Another example is Pixonic,
creators of War Robots, which operates out of Limassol and continues to serve a
global player base of 270 mn registered users.
For a Cyprus mobile gaming success story in terms of international reach, look
no further than Hero Wars, Nexter’s mid-core RPG f ranchise which is played in
over 100 countries and available across all key platforms. One of Cyprus’ most
popular home grown mobile games, the game has generated $984,324,356 in
lifetime revenue since it was first developed in 2016.
NOTABLE EXAMPLES:
FIGURES AND GROWTH 8
0
Revenue
(Million $)
Values
Downloads
(Million) Metrics Cumulative RpD
($)
100
200 300
400 500
Tier 1 West
Tier 1 East
Figure 3: A
comparative bar
graph illustrating theB
differences between B
Tier-1 West and B
Tier-1 East for HeroB
Wars across three key
metrics for Hero Wars
Hero Wars: Tier-1 West and Tier-1 East
Findings:
• Revenue: Tier-1 West has significantly higher revenue ($538.6 mn)
compared to Tier-1 East ($217.66 mn).
• Downloads: Tier-1 West leads with 37.14 mn downloads,
whereas Tier-1 East has 12.89 mn downloads.
• Cumulative Revenue per Download (RpD): Tier-1 East has a
higher RpD at $16.88 compared to $14.5 in Tier-1 West.

9
33%
Ov erall Mobile Games
67%
Cypriot Mobile Games
Mobile Games Available on Both St ores
66767%7%%%
CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
HOW MANY CYPRIOT MOBILE GAMES ARE
AVAILABLE ON BOTH IOS AND ANDROID?
Figure 4: The pie chart demonstrates
that when comparing Cypriot mobile
games to the global average, 53% of
Cypriot mobile games are available
on both iOS and Android, while 26% of
mobile games worldwide are available
on both platforms.
This data highlights that, on average,
a higher percentage of Cypriot mobile
games are available on both iOS
and Android compared to the global
average.
Figure 5: The bar graph shows the
average mobile game downloads for
Cypriot publishers compared to the
global average. Cypriot games have
significantly higher downloads
(11.02 mn than the global average
(1.43 mn).
*Data f rom 42Matters
AVERAGE MOBILE GAMES DOWNLOADS:
CYPRUS VS WORLDWIDE
*Data f rom 42Matters
0
Cypriot Mobile Games
Average Downloads (Millions)
Global Average
2
4 6
8
12
10
Average Mobile Game Doenloads: Cyprus vs. Global Average
11.02
1.43

10
CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
ACADEMIC SUPPORT
Given the rise of mobile devs and studios calling Cyprus home, it may come
as no surprise that academic institutions across the island nation are invested
in developing a skilled workforce tailored to the gaming industry. Several
universities offer specialised programmes in game design and development:
• Cyprus International University offers a Digital Game Design programme that
educates students in the latest tools and technologies for creating digital and
interactive content
• Eastern Mediterranean University provides a Digital Game Design
Undergraduate Program focusing on both theoretical and practical aspects
of game design, including courses in 2D and 3D animation, sound design,
and game technologies
• University of Central Lancashire (UCLan) Cyprus offers a BSc in Computing
with a specialization in games development, covering programming and
AI algorithms
A SUPPORTIVE ENVIRONMENT FOR START UPS
As of January 2025, the
country hosts 178 mobile gaming startups, with notable companies
such as Pixonic, Outfit7, and Nival establishing
operations on the island. Out of these,
14 startups are funded, with 9 having secured Series A+ funding, and 1 achieving unicorn status. Over the past
10 years, an average
of 12 new companies have been launched annually.
*All data f rom Tracxn
Myth 2: Cyprus lacks the proper inf rastructure and support for mobile gaming
The assertion that Cyprus lacks the inf rastructure and support for mobile
gaming may once have been true, but is no longer the case. In reality, Cyprus
has cultivated a robust environment conducive to the growth of the mobile
gaming industry, supported by a growing pool of talent, with support f rom
academic institutions, as well as a favourable business climate.

11
I have established a company in Cyprus twice, in 2019 and 2023, and have
seen first-hand how the local ecosystem has evolved post-pandemic. The
country is pushing its digital transformation, with banks and government
services becoming more familiar with the digital standards and improving
accessibility through eBanking systems and mobile apps. Cyprus became
a growing hub for the gaming industry, attracting a diverse talent pool as
more companies establish their presence here.
However, many professionals come f rom Russian-speaking backgrounds
and fostering a truly multinational environment requires
thoughtful integration strategies. The region’s appeal lies
in its business-f riendly incentives, including tax benefits
and specialized IT programs like expedited citizenship,
making it an attractive destination for both companies
and talents.
At the same time, the cost of living remains more
affordable than in the UK or Northern Europe, while
offering a high quality of life which makes Cyprus a
good choice for game developers.
Murad Musakaev,
Head of Studio, Tactile Games
CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
Myth 3: Cyprus only focuses on iGaming
It would be remiss to think that only betting and
casino-based mobile games are most prevalent
in Cyprus. While iGaming is popular – there is no
denying that, the stats tell a more nuanced story.
T he top 10 Cypriot mobile game publishers
have collectively amassed billions of downloads
worldwide, which we have placed into their
respective categories below – casual, action,
puzzle, and RPGs.
“

12 TOP 10 MOBILE GAME PUBLISHERS
IN CYPRUS (BY DOWNLOADS)
CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
Rank Publisher Number
of Games Downloads
Primary Genres
1 Outfit7 Limited 126.29B+ Casual, Simulation,
Virtual Pet
2 SayGames Ltd 1194.41B+ Hyper-Casual,
Puzzle, Arcade
3 Naxeex Action &
RPG Games 71
1.75B+
Action, RPG,
Open World
4 Playgendary
Limited 21
1.31B+ Arcade, Action,
Puzzle
5 CASUAL AZUR
GAMES 16
1.3B+ Casual, Puzzle,
Simulation
6 Zakeh 11B+ Virtual Pet,
Casual
7 Azur Interactive
Games Limited 30
985.23M+ Action, Shooter,
Multiplayer
8 Easybrain 23937.08M+ Puzzle, Sudoku,
Brain Training
9 NEKKI 7913.64M+ Fighting,
RPG, Action
10 DTC Lab 12480.01M+ Casual, Puzzle,
Hyper-Casual
*Data f rom 42matters
KEY INSIGHTS:
• The casual gaming sector dominates, with Outfit7 Limited’s
“Talking Tom and Friends” series leading global downloads.
• Hyper-casual and puzzle games are widely produced by studios like
SayGames Ltd and Easybrain, showing strong player engagement.
• Action and RPG titles, such as those f rom Naxeex and NEKKI, contribute to
a thriving non-gambling mobile gaming industry.
• Multiplayer and simulation experiences, including virtual pet games,
show diversity beyond gambling-focused content.

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CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
Dates: April 9–10, 2025
Location: Park Lane Resort & Spa, Limassol

Gamesforum Cyprus 2025 is set to take place on April 9-10 at the prestigious Park
Lane Resort & Spa in Limassol, Cyprus. This two-day event is a key gathering for
professionals in the mobile games industry, offering a platform for networking,
discussions, and insights into the latest trends shaping the sector. With over 50
expert speakers and more than 200 attendees representing 100+ companies, the
forum is designed to foster connections between publishers, developers, service
providers, and industry leaders.
STANDOUT PANELS AND KEYNOTES
Gamesforum Unfiltered
Bringing its off-the-record and uncensored format to Cyprus, Gamesforum
Unfiltered will feature candid discussions on mobile game growth and
monetization. Moderated by Wargaming’s Sergei Vasiuk, the session includes
expert insights f rom Google, Burny Games, and Outloud Games, offering unfiltered
perspectives on the industry’s hottest challenges.
Key Steps for Successful UA Diversification
Alina Ismailova, Head of Marketing Partnerships at MY.GAMES, will share strategies
for onboarding and scaling UA channels without sacrificing ROI. She’ll discuss
analytics, creative strategy, and risk optimization across rewarded platforms, ad
networks, and affiliates.
Mobile Gaming Trends 2025: The Heart of Gaming Innovation
David Vykopal, Producer at NOXGAMES, will analyze key shifts in the mobile F2P
sector, offering data-driven insights into emerging genres, market trends, and
business strategies shaping the industry in 2025.
Ad Revenue at MY.GAMES: Squeeze the Ad Mon Lemon
Dmitriy Kovalenko, Deputy Chief Ad Innovation & Monetization Officer at
MY.GAMES, will dive into ad revenue optimization, covering best practices for
waterfall management, bid floor testing, and unlocking brand demand in
mobile gaming.
Don’t miss out on attending Gamesforum Cyprus – tickets are still available here.

14
CYPRUS’ MOBILE GAMING SCENE:
WHAT THE DATA TELLS US
I moved to Cyprus in 2022 with my company, Zillion Whales, where I
actively engaged with colleagues at GDCy, White Nights, and other
conferences, and even formed a rock band with them, performing at
GDCy Fest in 2024. During this time, we successfully secured
investment for our crypto project, Wild Forest, and launched
it with great success, while also selling our core business to
Azure Games, where we continue to work on popular
mobile games such as Mushroom Wars 2, Bunker Wars,
and others.
Andrey Korotkov,
CEO & Partner, Zillion Whales
“

THE HOME OF MOBILE GAMES
INDUSTRY PROFESSIONALS
Written by: Mariam Ahmad and Josh VowlesDesign by: Jimmy Bridges
Marketing by: Nisha Fishlock and Alica Parkes
UPCOMING GAMESFORUM
CONFERENCES:
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Gamesforum Cyprus, 9 & 10 April
Gamesforum Hamburg, 10 & 11 June
Gamesforum London, 16 & 17 September
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